Speaking of Dividends

A Stylish Payout from Macy's

The department-store operator plans to put another $78 million in investors' pockets.

Retail sales began the second quarter on a positive note, rising 0.1%. With gasoline and food prices easing, discretionary spending picked up. That's good news for Macy's (see "The Maestro of Macy's," Dec. 31, 2012), which last Wednesday enhanced its dividend 25% and added $1.5 billion to its stock-buyback program.

The nation's No. 1 department-store chain's new quarterly will be 25 cents a common share, up from 20 cents. That'll put $78 million more in investors' pockets annually. This is Macy's third boost...